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Hi-Tech Coming to SoHo

Another hi-tech company is opening a branch in SoHo at 375 W. Broadway. Square, which makes devices that allow businesses to accept credit card payments, will now be able to expand to have 250 employees.

As Demetrios Marantis, Square’s head of international government, regulatory and policy work said, “New York exerts a significant impact upon global commerce, technology, and art — something we do every day at Square as we help local sellers grow their business with simple and beautiful tools.”

Square is based in San Francisco and also has offices in Atlanta, Tokyo and Kitchener-Waterloo.

It might be interesting for other start-ups to know that New York State’s Governor Andrew Cuomo is going out of his way to court hi-tech companies and start-ups. The Governor has been involved in Square’s entry into its East Coast headquarters, offering Square $5 million in tax credits to help facilitate its New York expansion. Similar tax credits are available for other start-ups, as indicated by the spokesperson for Governor Cuomo’s office.